Starting this week, Venmo and PayPal users can send money directly to the U.S. Treasury Department to help reduce the country’s massive $36.6 trillion national debt.
The feature allows individuals to voluntarily donate funds through the platforms to the Bureau of the Fiscal Service, the branch responsible for managing federal finances. According to the Treasury, contributions can be made by searching for the official account within the Venmo or PayPal apps.
Since this initiative began decades ago, over $7 million has been donated by Americans hoping to make a difference. With the addition of digital payment apps, the government aims to simplify the process and encourage broader participation, even if the scale of donations remains symbolic compared to the debt’s magnitude.
The announcement comes amid ongoing debates about government spending, the debt ceiling, and the long-term effects of the Federal Reserve’s monetary policy. It also raises new questions about civic responsibility and how ordinary citizens might engage with the country’s financial future.
The donation account is listed under “U.S. Department of the Treasury’s Bureau of the Fiscal Service” on both platforms.
Sources: U.S. Treasury Department, CNBC, Bloomberg, PayPal Newsroom
